Regulatory Compliance for Financial Institutions

Co-Chairs’ Opening Remarks

Sara Gelgor
Chief Compliance Officer
Concentra Bank

Lisa Cinelli
Vice-President, Chief Compliance Officer and Chief AML Officer
Equitable Bank

Danielle Lin
Vice President Canadian Banking & Consumer Legislation Compliance
TD Bank Group

FCAC Interactive Q&A

How to Build a Best-in-Class Complaints Handling Program and Meet Financial Consumer Protection Act Obligations

Frank Lofranco
Deputy Commissioner, Supervision and Enforcement
FCAC

Moderator:

Danielle Lin
Vice President Canadian Banking & Consumer Legislation Compliance
TD Bank Group

• Understanding key elements of the complaints handling requirements set out under the Bank Act
• Gain clarity on FCAC’s Guideline and expectations for the implementation of complaints handling programs
• Identifying weak points in consumer complaint-handling

Canada’s Evolving Privacy Regime: How to Prepare for New Provisions and Avoid Costly Data Management Mistakes Along the Way

Mark Pawelek
Chief Compliance Officer, Chief Privacy Officer and Members Concern Officer
Motusbank

Wendy Mee
Partner
Blakes Cassels & Graydon LLP

Sandeep Joshi
Associate General Counsel & Managing Director of Corporate Investigations (Canada & International)
BMO Financial Group

• Status of the Bill C-11 and Quebec’s Bill 64
• Examining the proposed provisions, how they compare to GDPR and the operational implications for FRFIs
• Identifying potential conflicts between privacy expectations and record-keeping requirements
• Operationalizing consumer data protection best practices
• Data collection and retention
• Practical insights on how to mitigate risks immediately following a breach
• Examining lessons learned from recent privacy breaches
• Developing a data protection strategy that mitigates the risks posed by remote work

Networking and Refreshment Break

Client Focused Reforms in Practice: What Investment Dealers Need to Know to Protect their Customers and Stay in Compliance

Jacqueline Sanz
Managing Director, Canada Lead, Risk and Compliance Solutions
Protiviti

Susan Silma
Head, Risk and Regulatory Business Practices
Sun Life Financial

Investment firms and dealers are tasked with aligning their day-to-day operations with a new slate of client focused reforms, scheduled to be fully in effect by December 2021. This exclusive new panel will address:

• How to enhance protection for vulnerable clients and complying with NI 31-103 obligations effective December 2021
• How to satisfy KYC and KYP rules
• Product suitability determinations
• Analyzing complex client scenarios: how to meet due diligence expectations under the CFR
• Examining newly implemented requirements on conflict of interest and referral arrangements
• Delving into compliance expectations and best practices for protecting consumers who are using self-serve online platforms and services
• Best practices for avoiding misleading communication with clients
• How to navigate misalignment between retail and wealth consumer protection frameworks

Networking Lunch

Special Focus on Talent Retention and the Future of Work

Industry Roundtable: Strategies for Supporting for Employees and the Business in a Post-COVID Business Landscape

Douglas Johnson
Chief Compliance Officer
Haventree Bank

Lisa Cinelli
Vice-President, Chief Compliance Officer and Chief AML Officer
Equitable Bank

• How employer and employee expectations have evolved and the implications for FI compliance teams now and in the future
• How to strike a balance between supporting the business and satisfying employee expectations for improved retention
• How to effectively manage risks when staffing is not adequate
• Exploring opportunities to support compliance functions with automation and technology
• Assessing the importance of in office visibility in the context of maintaining compliance
• Tips on how employers and new hires can foster a positive experience in the digital environment
• Benchmark with FIs and walk away with practical ways to empower employees in the office and at home

What International Trends Indicate about Shifts in Regulatory Oversight and How Compliance Programs Should Prepare

Lucie Tedesco
Counsel
McCarthy Tétrault LLP
(Former Commissioner, FCAC)

Networking Break

FINTRAC TOWNHALL

Status Report on PCMLTFR: Identifying Where FRFIs are Missing the Mark and What to Expect in 2022

Nathalie Martineau
Regional Director
FINTRAC

Many of the requirements under the PCMLTFR have come into force making it a critical time to check in with the regulator. This townhall session will provide the opportunity to get your questions answered.  Gain clarity on where the regulator is exercising flexibility, learn where policies and procedures are falling short of expectations and best practices to rectify deficiencies and avoid penalties for non-compliance.

• Identifying EFT and large virtual currency transactions reporting missteps
• Gain insights on how the implementation of obligations are being assessed and where flexibility and reasonability will be exercised in view of the amended regulations
• Examining shifts in reporting structures and the implications for REs
• Analysis of the top AML compliance gaps flagged since June 1, 2021 and steps compliance teams can take to address them
• How to align operations with FINTRAC’s 2022 priorities and initiatives

CDIC Act and By-laws: Zoning in on Upcoming Requirements and Key Initiatives

Emiel van der Velden
Head, Depositor Solutions, Insurance & Compliance
CDIC

• Assessing the how the first phase of measures is impacting the customer experience and understanding of CDIC coverage
• Guidance on CDIC Act Amendments and By-Laws coming into effect on Apr. 2022
• Exploring recent research on contingency plan testing

Conference Adjourns

Co-Chairs Opening Remarks

Sara Gelgor
Chief Compliance Officer
Concentra Bank

Lisa Cinelli
Vice-President, Chief Compliance Officer and Chief AML Officer
Equitable Bank

Danielle Lin
Vice President Canadian Banking & Consumer Legislation Compliance
TD Bank Group

Culture and Conduct Risk - Part I

OSFI: How Financial Institutions Should Approach the Relationship between Culture and Risk to Establish Stronger Compliance

• Gain clarity on regulatory expectations for measuring culture as an indicator of compliance
• Determining the differences between risk culture and compliance culture and how they apply operationally
• Top takeaways from the industry scan on how culture is being defined and documented
• Forecasting where culture will fit in terms of supervisory oversight and how organizations can begin to prepare 

Culture and Conduct Risk - Part II

Measuring Culture: How to Set the Right Metrics and Start Translating them into Actionable Insights for your Compliance Program

• Exploring how to set effective KPIs for culture and risk within the context of your organization
• Practical insights on how to assess and leverage data on culture to strengthen compliance
• Best practices for monitoring metrics and spotting culture and conduct risk red flags

Networking Break

ESG: How Compliance Teams Should Handle Disclosures

Sara Gelgor
Chief Compliance Officer
Concentra Bank

Sarah Keyes
CEO
ESG Global Advisors

• Identifying key risks posed by climate change to financial institutions
• Examining current and developing regulatory oversight
• OSFI’s position on climate change related risks and what a new regulatory framework could include
• Anticipating current and forthcoming requirements including mandatory disclosures to investors and reporting obligations
• Assessing what ESG means operationally across the three lines of defence
• Exploring how FRFIs are approaching ESG, and adjusting policies and procedures to mitigate risks

Payments Compliance and Innovation: Unpacking the New Regulatory Regime for Payments Providers Under the Retail Payments Activities Act

Tracy Molino
Counsel
Dentons LLP

Rodney Shields
Chief Compliance Officer
OTT Pay

Ryan Yates
President and CEO
Apaylo Finance Technology

• Interpreting RPAA’s scope of application and how to operationalize provisions set out for end users and PSPs
• Risk management and incident response best practices
• Examining the role of the Bank of Canada
• Anticipating how the enforcement regime will take shape
• Best practices for avoiding penalties
• Practical insights on reporting and pitfalls to avoid
• Assessing how RPAA will impact competition and innovation in the payments landscape

Networking Lunch

Keynote on Corporate Governance

Social Responsibility and Ethics: How Corporate Boards Can Achieve Better Alignment with Stakeholders

Focus on RCM

How to Keep your Compliance Team Ahead of the Curve: Strategic Approaches for Classifying Risk and Navigating the Evolving Regulatory Landscape

David Parkatti
V.P. & Chief Compliance Risk Officer, Legal, Compliance and Investigations Group
Canadian Western Bank

Keeping up with the evolving regulatory landscape is a complex and onerous task. There are a growing number of compliance frameworks that must be applied to mitigate risks and build operational resilience. This session will provide practical industry insights on how to effectively classify risks, manage regulatory obligations and smooth out operations.

Networking Break

Hot Topic

FinTech, Open Banking and the Regulatory Sandbox: How Technology is Driving Real-Time Regulation Globally and the Implications for Financial Institutions

Stephen Cheeseman
VP, Legal and Compliance
Canada Protection Plan

Koker Christiansen
Partner
Fasken LLP

Don Johnston
Partner
Aird Berlis LLP

This session will provide an in-depth examination of the obstacles and opportunities tied to the development of open banking in Canada and the economic factors that working for and against the initiative’s realization. Explore how financial institutions and the financial regulatory system will need to evolve to support this transformation from both a technological and compliance lens.

• Examining the status of open banking and next steps
• What are regulators doing to foster innovation, including how FSRA, BC FSA and newer regulatory agencies
• Navigating the tension and overlap between innovation and consumer interests

Virtual Currency: Top Takeaways from the Most Notable Regulatory and Enforcement Trends of 2021

• Top compliance takeaways from recent enforcement actions in Canada and abroad
• Identifying where digital asset providers fit into Canada’s regulatory landscape
• In-depth examination of what laws currently apply in Canada
• Best practices for addressing key risks to clients

Conference Adjourns